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European, Asian real estate moves through April 12


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European, Asian real estate moves through April 12

S&P Global MarketIntelligence presents a weekly rundown of recent significant management andboard changes and personnel moves in the European and Asia-Pacific real estateindustries. The moves are listed by sector and by announcement date in reversechronological order. The North America Hires and Fires column will be publishedThursday.


*Local Shopping REIT Plcsaid April 12 thatSteven Faber, board member and director of the company, resigned from his role.He served in the position since the company appointed INTERNOS Global Investors Ltd., of which Faberis an employee, as its investment adviser in July 2013. He will also be leavingINTERNOS in the near future, the news release said.

INTERNOSExecutive Director Jonathan Short will be directly responsible to the companyfor the investment advisory role, while Rupert Wallman, INTERNOS portfoliomanager, will hold management responsibility for the company's day-to-dayactivities, according to the news release.

*Unite Group Plc hasnamed a new CEO as Mark Allan agreed to join St. Modwen Properties Plc, both companies said April 7.

Allan'sappointment at St.Modwen is effective Dec. 1, but he will join the company Nov. 1 as CEOdesignate. He will take the reins from current CEO Bill Oliver, who will retireat the end of the company's financial year on Nov. 30, as earlier.

UniteGroup, meanwhile, promoted Richard Smith to CEO, effective July 1.

Allanwill remain at Unite Group in an advisory role until Oct. 31. He served thegroup for 17 years, with 10 years as CEO.

Smithbegan at Unite Group in 2010, and became a board member in January 2012 following his appointmentas managing director of operations.

*Wereldhave NVsaid April 6 thatBert Groenewegen will step down from the company's board, effective Sept. 1.The company's supervisory board will continue to consist of five members, withtwo appointments to be proposedat the annual general meeting scheduled for April 22. One of the proposedmembers, Leen Geirnaerdt, is expected to succeed Groenewegen as the chair ofthe audit committee, according to the news release.

*Primary Health Properties Plcsaid April 5 that itappointed Geraldine Kennell and Nick Wiles as independent nonexecutivedirectors. James Hambro and William Hemmings stepped down as directors at theconclusion of the company's annual general meeting held on the same date.


* on April11 said itappointed ShermanKwek Eik Tse deputy CEO.

ShermanKwek will assist CEO Grant Kelleyin the oversight and management of the group's operating divisions and helpcarry out the company's strategic objectives in Singapore and overseas growthmarkets.

ShermanKwek, the son of Kwek Leng Beng, City Developments' executive chairman, willrelinquish his position as chief investment officer of the company.

CityDevelopments also named Yiong Yim Ming as the company's CFO. Before assumingthe duties of interim CFO earlier in 2016 when Goh Ann Nee , Yiong was the senior vicepresident of group accounts.

Further,Kwek Eik Sheng has been appointed to serve as the head of asset management inaddition to his current role as chief strategy officer. He joined CityDevelopments in 2009.

CityDevelopments added that it named Mark Yip CEO of its unit CDL China Ltd. toreplace Sherman Kwek. Belinda Lee was appointed head of investor relations inaddition to her current responsibility as head of corporate communications.Lastly, in January, Galen Lee joined the company as head of capital markets.

Theappointments take effect April 11, the company said.

*MTR Corp. Ltd.said April 8 that itappointed Jacob Kam, current operations director, to the newly created positionof managing director of operations and mainland business. Adi Lau, currentdeputy director of operating, will succeed Kam as operations director, withboth appointments effective May 1. The company also appointed Margaret Chenghuman resources director and member of the executive directorate, effectiveJune 1.

*UEM Sunrise Bhd.replaced nonindependent and nonexecutive director Sheranjiv Sammanthan withZaida Khalida Shaari, according to two April 8 releases. The resignation was part of a process ofrotation based on the directive of Khazanah Nasional Bhd., the substantialshareholder of the company. The changes are effective from the same date.

*Shangri-La Asia Ltd.appointed Liu Kung Wei Christopher COO and managing director, replacingoutgoing COO Gregory Allan Dogan, who remains an executive director. Thechanges are effective April 5, the company said in a same-day .

*SP Setia Bhd.'s boardconfirmed Dato' Khor Chap Jen to serve as the company's president and CEO,according to an April 4 newsrelease. The board also named Datuk Wong Tuck Wai as deputypresident and COO, while Choy Kah Yew assumed the CFO role. All appointmentswere effective April 1.

Other geographies

*Dubai-based Emaar Properties PJSCsaid April 10 thatAbdulla Lahej has discontinued his role as CEO of the group.

Theresponsibilities of CEO will be handled by group COO Amit Jain, the newsrelease said. No reason was given for the departure.

Lahejwas named group CEO in January 2014. He joined the company in 2000 as assistantproject manager, and served in various roles until his appointment to group CEO.